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U.S. Mortgage Delinquencies Reach New High in November

Equifax Inc. released data yesterday showing that mortgage delinquencies rose to a new record in November and could remain high in December, Reuters reported today. Among U.S. homeowners with mortgages, 7.91 percent were at least 30 days late on payments in November, up from 7.76
percent in October. The percentage of delinquencies has increased; Equifax data showed that 5.83 percent of mortgages were at least 30 days past due in November 2008, and 3.93 percent were past due in November 2007. In November, 42.06 percent of subprime mortgages were delinquent
compared with 41.36 percent a month ago and 39.25 percent in June.